Deutsche bolsters China bond capabilities

29 October 2013   Category: News, China   By Asia Asset Management

Deutsche Bank China has received an Inter-bank Bond Settlement Agent licence from People’s Bank of China, allowing it to provide end-to-end bond services to local corporates and financial institutions across the country, including bond trading and settlement services.
With this licence, Deutsche Bank is able to offer onshore settlement services on the OTC market − in addition to on-exchange − to a wider range of clients, including RMB trade settlement banks, insurance companies, QFIIs and RQFIIs, which will also help to boost the bank’s fast growing RMB business.
Carl Wegner, Greater China head of global transaction banking at Deutsche Bank, said: "We are very excited to be one of the three foreign banks to have the Inter-bank Bond Settlement Agent licence in China. Our clients will be able to gain efficiencies from using Deutsche Bank for all their bond services needs. At the same time, this will help us to extend our client base to new segments.”
Beng Hong Lee, head of markets at Deutsche Bank China, added: “Receiving the Inter-bank Bond Settlement Agent licence is an important milestone for us, especially as we continue to deepen our reach in this large market. Inter-bank trading activities represent more than 94% of the bond market in China, so this licence brings great potential to our fixed income trading franchise. In addition, our clients will directly benefit from this end-to-end onshore bond platform.”